Bank of America with quarterly figures: Sales and profit down

The quarterly figures of Bank of America have just been published. Here are the key figures.

The sales volume is at 22.3 billion Dollars (previous year quarter 22.74/expectations 22.1).

Earnings per share were $0.74 (prior year quarter 0.70/expectations 0.68). In total, the profit is 7 billion Dollars compared to 7.3 billion Dollars one year ago. Has someone bought back shares to increase earnings per share even though total earnings are falling?

Sales in the area of “Bonds, currencies and commodities” were good.

Consumer business: loans +7%, deposits +5%. Reserves for loan losses increase by 36 to 941 million Dollars.

Sales of currencies, bonds and commodities are up 25% to 1.8 billion Dollars.

The share is quoted pre-market at +0.42%.

CEO commentary:

“In a steadily growing economy marked by solid client activity, our teammates produced another strong quarter and year. Allowing us to increase investments in our customers, communities, and employees, while keeping a close eye on expenses. We also delivered for shareholders in 2019 by returning a record $34 billion in excess capital through dividends and share repurchases. As evidenced by a quarter in which our customer deposits surpassed $1.4 trillion and client balances in our wealth management business topped $3 trillion. We enter 2020 with momentum.”

Bank of America Quartalszahlen
Bank of America Logo
Photo: Brian Katt CC BY-SA 3.0

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